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Sunwill Precising Plastic to Raise Proceeds of 242 Million Yuan From Share Placement

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Guangdong Sunwill Precising Plastic (SHE:002676) plans to raise proceeds worth up to 242.3 million yuan through a share placement, according to a Shenzhen bourse filing on Thursday.

The proceeds will be used for the upgrade of an automated intelligent manufacturing base for fan blades and the construction of a high-performance modified composite materials plant, as well as for the supplementation of the company's working capital.

The Chinese plastic air-conditioning fan blades producer's shares rose 3% at the close.

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